CRMNEXT allows easy access to required fields for routine customer and account maintenance, with built-in guardrails for data governance and mitigation from the consequences of inaccurate entry.
Curious how CRMNEXT could work for you?
"The challenge is to find a comfortable balance
between the competing elements of trust ,
convenience, data security and innovation.⁷"
The Balancing Act:
Data Accessibility vs. Data Security
Data Accessibility vs. Data Security
Data access problems impede
financial institutions’ ability to handle
requests in a timely manner.⁴
financial institutions’ ability to handle
requests in a timely manner.⁴
80% of bankers report their
data requires periodic cleanup
or manual workarounds to be useful.⁴
data requires periodic cleanup
or manual workarounds to be useful.⁴
Data Accessibility
44% of customers
report significant friction when trying to update account information.⁶
report significant friction when trying to update account information.⁶
81% who have
difficulty plan to spread negative word of mouth about their experience.⁵
difficulty plan to spread negative word of mouth about their experience.⁵
Most customers report loyalty-eroding problems due to
obstacles in achieving prompt issue resolution.¹
obstacles in achieving prompt issue resolution.¹
- 56% have to re-explain the issue
- 57% have to switch from web to phone
- 59% are transferred between agents
- 62% have to contact support repeatedly
Financial institutions that give their staff the tools to directly handle
requests and solve issues realize measurable gains.²
requests and solve issues realize measurable gains.²
up to
Employee productivity
increases up to 20%
increases up to 20%
Customer satisfaction
increases 11%
increases 11%
by
Customer effort
decreases by 9%
decreases by 9%
Data Security
Data Integrity Issues Impact Everything
Risk and Regulatory Compliance
- Increased penalties and fines
- Credit assessment and investment risks
- Higher compliance costs
Business Operations
- Reduced productivity
- Decreased throughput and longer processing times
- Increased rework to correct inaccuracies
Financial Performance
- Increased operating costs and IT expense
- Decreased revenue and cash flow delays
- Reduced business confidence and organizational trust
Data Governance Helps Financial Institutions⁴
Mitigate
compliance risk and adhere to regulations
Enhance
service quality and reduce customer attrition
Improve
profitability and operational effectiveness
Enable
more informed and real-time decision makingCRMNEXT: Checks and Balances
Employee Empowerment
- Unlock maintenance access to relevant fields
- Provide immediate servicing for better client experience
Compliance Mindset
- Avoid exposing risk-prone fields to prevent compliance consequences
- Preserve data security with built-in guardrails
Sources: ¹ HBR.org 2010 Graphic; ² Gartner; ³ HBR.org 2015; ⁴ Capgemini 2017;
⁵ HBR.org 2010 Article; ⁶ Capgemini 2021; ⁷ Signavio
⁵ HBR.org 2010 Article; ⁶ Capgemini 2021; ⁷ Signavio
Simplify Work. Drive Growth.
Deliver on Experience.
Deliver on Experience.
